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overtheedge
Member since May 2012
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has posted a comment on the article :
>Open Letter to Hugo Salinas Price  - Keith Weiner - keith weiner
"Interest - paid in gold."

Say what?

#1 Violates Gresham's Law.
#2 Where does the interest, in gold, come from?
#3 Mandates Fractional Reserve banking.
#4 Ever hear of Re-hypothecation? Which brings us to ... ,

If you don't have complete control of an asset, you don't have control. It "might" be returned, might. You are holding the "Note", just a promise to repay you with interest.

The investor sees PMs as commodities. The saver sees them as "critical to hold" assets. Ever hear of holding a "core." Mayhaps the core is the savings and the rest is just trading stock: today gold, tomorrow pork bellys.

You don't understand the psychological aspects of asset valuations when assets are always scarce. Step away from the computer and spend 6-8 months living in an extreme austerity environment. Then you will learn that scarce hard assets are awful hard to part with.



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4326 days ago
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Beginning of the headline : Dear Mr.Price: I read your piece: "On the Use of Gold Coins as Money" . I think you ask the right question.This is the elephant in the room.Why do gold and silver not circulate? I love your analogy of the Swiss asserting that they will "allow" gold to have a monetary role, this being like "re-hydrating water... Read More
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